Carmudi, the Germany-based operator of a classifieds website for cars and other vehicles, secured $25m yesterday from a series B round featuring Tengelmann Ventures, the corporate venturing arm of retailer Tengelmann.
Asia Pacific Internet Group, a joint venture by incubator Rocket Internet and telecommunications company Ooredoo, also participated, as did Holtzbrinck Ventures, the venture capital firm affiliated with publishing group Georg von Holtzbrinck, and an undisclosed private investor.
Tengelmann provided $10m in series A funding for Carmudi in April 2014, the year after it had been formed by Rocket Internet.
Carmudi runs an online classified listings service for cars, motorcycles and commercial vehicles. It has expanded into 20 countries, 19 of which are situated in Africa or Asia.
The company will use the funding to strengthen its position in Asia and Latin America, where it is currently only present in Mexico.